All employees with salaries processed through Wing Bank’s payroll package can now benefit from free insurance coverage of up to $1,000 per employee.

In a new collaboration aimed at enhancing the well-being of employees, Wing Bank (Cambodia) Plc and Cambodia Life Micro Insurance Plc (Camlife) have come together to offer free insurance coverage to employees, providing them with essential protection against unforeseen circumstances and fostering financial inclusion among the workforce community.

"We cannot predict what lies ahead, which is why financial protection is absolutely essential," said Han Peng Kwang, CEO of Wing Bank. “This collaboration underscores our unwavering commitment to fostering a resilient workforce and providing business owners with the support they need to thrive in today's dynamic economy.”

The partnership was formalised through the signing of a memorandum of understanding between Han and Un Sorasmei, acting CEO of Camlife.

Under the collaboration, all employees with salaries processed via Wing Bank will receive free insurance coverage worth up to $1,000 per individual. The coverage, offered through Camlife's "Simple One" product, provides protection against death and permanent disability, including the loss or impairment of any limb or eye.

To ensure their loved ones are cared for in times of need, each employee can designate a beneficiary, whether it be a spouse, child or parent. This added layer of security provides peace of mind and support to workers and their families.

Sorasmei expressed his pride in partnering with Wing Bank to deliver this vital insurance coverage to workers. 

"This collaboration provides employees with an added layer of security, benefiting their families and loved ones," he affirmed.

“By joining forces with Wing Bank, we leverage our combined strengths to enhance financial security for employees of Wing Bank's Payroll Partners,” added Sorasmei. “This partnership aligns perfectly with our mission to deliver accessible and affordable insurance solutions to the underserved communities, thereby bolstering their financial resilience.” 

With over 380,000 employees across various industries in Cambodia currently utilising Wing Bank for their salary processing, the impact of this collaboration will be significant. Alongside its convenient payroll package, users can enjoy a range of benefits, including free cash withdrawals at over 11,000 Wing Agent locations nationwide, free access to state-of-the-art ATMs located in all Wing Bank branches and waiver of the first-year annual fee for Wing Bank Visa Debit and Credit Cards.

What’s more, eligible employees can access Wing Bank Digital Loans to address their immediate financial needs without the requirement for collateral or guarantors.

Employers or company owners utilising the Wingbiz+ payroll solution can benefit from free local fund transfers, zero fees for international transfers using Wing Bank's Inward Telegraphic Transfer via Swift, no system maintenance fees and dedicated support at no extra cost. Furthermore, employees can enjoy the convenience of fee-free utility and bill payments and access a wide range of other financial services through the user-friendly Wing Bank App. 

Wing Bank's collaboration with Camlife represents a significant step towards fostering financial well-being and security for employees in Cambodia. By providing comprehensive insurance coverage and a suite of financial solutions, Wing Bank continues its commitment to supporting the community and driving positive change. 

To take advantage of these valuable benefits, employers are encouraged to contact Wing Bank’s call centre at 023 999 989 for more information.